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Ask Your Broker

Ask Your Broker | Coverage Evaluation

If you currently have an insurance broker or are thinking of partnering with one, you should ask the following questions . . .

Financial/Strategy

  1. Does your broker meet with you prior to your renewal to review your needs and current status?
  2. Does your broker market your employee benefits program each year?
  3. Are you provided with alternative plan designs and competitive quotes?
  4. Do you review alternative funding arrangements, such as self-insurance or partial self-insurance?
  5. Has your broker explored Health Reimbursement arrangements or Section 105 plans for you?
  6. What kind of leverage and relationship does your broker have with insurance carriers?

Customer Service / Administration

  1. Does your broker intervene on your behalf when issues arise with your insurance vendors?
  2. Is your broker available to help you with COBRA and Flexible Spending?
  3. Does you broker offer solutions to help you streamline the administration of your plans?
  4. Does your broker help you with regulatory issues and compliance?

Communication

  1. Does your broker keep you up to date on industry trends and new product offerings?
  2. Do you hear from your broker only at renewal time? (…not a good thing!)
  3. Does your broker coordinate open enrollment employee meetings and draft benefit communications materials?